Memory chip is tiny wafer of semiconducting material, which is used to store information and data or process code. They are available in various shapes and sizes. Some can be connected directly, while some need special drives. They hold memory either temporarily through random access memory (RAM) or permanently through read only memory (ROM). Data in the ROM are permanently stored, which a processor can read but cannot modify. Memory chips are adopted across various application such as Laptop/PCs, smartphones, camera, wearables devices, and others.

Rise in smartphones penetration has driven the demand for memory chip market. Furthermore, high-density storage capability, quick read & write cycle, and availability of carious shapes & sizes of memory chips have majorly fueled the adoption of memory chips in the digital domain. In addition, upsurge in adoption of smart devices and increase in demand from stabilizing PC industry are supplementing the market growth. However, easy corruption of memory chip restrains the growth of the market. On the contrary, growth in demand for memory chips in electronic devices is anticipated to provide lucrative opportunities for the manufacturers operating in the market.

The memory chip market is segmented on the basis of type, application, and geography. On the basis of type, the market is bifurcated into volatile and nonvolatile memory chips. The volatile memory chips segment is further classified into dynamic random access memory (DRAM) and static random access memory (SRAM). Nonvolatile memory chips segment is subsegmented into programmable ROM (PROM), electrically erasable programmable ROM (EEPROM), NAND flash, and others. By application, the market is divided into laptop/PC, camera, smartphone, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.